Myers Industries, Inc. (NYSE:MYE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its position in Myers Industries, Inc. (NYSE:MYE - Free Report) by 78.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,506 shares of the industrial products company's stock after buying an additional 58,761 shares during the period. JPMorgan Chase & Co. owned 0.36% of Myers Industries worth $1,845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in Myers Industries in the third quarter valued at about $28,000. nVerses Capital LLC lifted its holdings in shares of Myers Industries by 57.9% in the 3rd quarter. nVerses Capital LLC now owns 3,000 shares of the industrial products company's stock worth $41,000 after acquiring an additional 1,100 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Myers Industries in the 3rd quarter worth approximately $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Myers Industries during the 3rd quarter worth approximately $85,000. Finally, Quest Partners LLC acquired a new stake in Myers Industries in the 3rd quarter valued at approximately $150,000. Institutional investors and hedge funds own 90.82% of the company's stock.

Insider Buying and Selling

In other Myers Industries news, CEO Dave Basque purchased 5,000 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were bought at an average cost of $11.33 per share, for a total transaction of $56,650.00. Following the completion of the purchase, the chief executive officer now directly owns 29,152 shares in the company, valued at approximately $330,292.16. This represents a 20.70 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought 19,500 shares of company stock worth $232,575 over the last 90 days. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. KeyCorp lowered Myers Industries from an "overweight" rating to a "sector weight" rating in a research report on Wednesday, November 6th. StockNews.com cut Myers Industries from a "hold" rating to a "sell" rating in a report on Friday, January 17th.

Myers Industries Stock Up 3.4 %

Myers Industries stock traded up $0.40 during mid-day trading on Thursday, reaching $12.14. 209,919 shares of the company's stock were exchanged, compared to its average volume of 255,461. The company has a quick ratio of 1.11, a current ratio of 1.80 and a debt-to-equity ratio of 1.36. Myers Industries, Inc. has a twelve month low of $10.35 and a twelve month high of $23.63. The company has a market cap of $452.37 million, a P/E ratio of 28.91 and a beta of 1.22. The company has a fifty day moving average of $11.50 and a 200-day moving average of $12.88.

Myers Industries (NYSE:MYE - Get Free Report) last released its earnings results on Monday, November 4th. The industrial products company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.29 by ($0.04). Myers Industries had a net margin of 1.88% and a return on equity of 14.75%. The company had revenue of $205.07 million during the quarter. During the same period in the previous year, the business posted $0.38 EPS. Sell-side analysts expect that Myers Industries, Inc. will post 0.95 EPS for the current year.

Myers Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Tuesday, December 3rd were issued a $0.135 dividend. The ex-dividend date was Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.45%. Myers Industries's dividend payout ratio (DPR) is 128.57%.

About Myers Industries

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.